British mobile-only bank Monzo is making its way across the pond to the US today. Valued at more than $1 billion, Monzo has gradually been growing its customer base in the UK and recently hit 2.2 million customers. Unlike traditional banks, Monzo operates solely on iOS and Android via an app, and has no brick-and-mortar banks. It calls itself the “bank of the future,” that will take on the bigger banks.
Monzo has managed to grow quickly in the UK thanks to its focus on features that other big banks in Britain simply don’t offer. There are instant notifications for your spending, with payments removed immediately from your bank balance so it’s always accurate. Monzo also includes easy ways to send money to friends who also use the…
Monzo launches its ‘bank of the future’ in the US
Source: New feed
